Gold Price & Silver Price Updates

Technical Analyst & Editor
April 11, 2015

Gold’s COT data is not supportive for overall higher prices.

Gold sector cycle is down as of 2/06.

Gold Sector

$HUI is on a long term sell signal since March 2012.

Long term signals can last for months and years and are more suitable for the long term investors.

$HUI is on a short term buy signal.

Short term signals can last for days and weeks and are more suitable for traders.

$HUI bounced from support but until resistance is broken, the trend remains down.

Summary

Gold sector is on major sell signal.

Cycle is down.

COT data is not supportive for overall higher prices.

Silver Sector

Silver is on a long term sell signal since Dec 2011.

Long term signals can last for months and years and are more suitable for long term investors.

SLV – is on short term buy signal.

Short term signals can last for days and weeks and are more suitable for traders.

Summary

Silver is on a long term sell signal and investors should be in cash or short.

SLV is on a short term buy signal and traders can play for a bounce if risks are manageable.

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Disclosure

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

Jack Chan is the editor of Simply Profits, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.


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